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    Nord Stream 2

    Russian Energy Minister Discusses Nord Stream 2 Project With Wintershall CEO

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    Alexander Novak held a meeting with German Wintershall holding CEO Mario Mehren and Chief Financial Officer of BASF SE Hans-Ulrich Engel and discussed the implementation of the Nord Stream 2.

    HOUSTON (Sputnik) — Russian Energy Minister Alexander Novak held a meeting with German Wintershall holding CEO Mario Mehren and Chief Financial Officer of BASF SE Hans-Ulrich Engel and discussed the implementation of the Nord Stream 2 gas pipeline project, the Energy Ministry said Wednesday.

    "I am sure that the implementation of this project will promote strengthening of the mutually beneficial cooperation between Gazprom and Wintershall," Novak said at the meeting on the sidelines of the CERAWeek conference in Houston, Texas, as quoted by the ministry.

    According to Novak, the Nord Stream 2 is a commercial project, which aims to increase the reliability of energy to supply to Germany and the European Union as well as to provide additional gas supplies.

    Nord Stream 2, a joint venture of Russia’s Gazprom with France's Engie, Austria’s OMV AG, Royal Dutch Shell, Germany's Uniper and Wintershall, will bring an estimated 55 billion cubic meters of Russian natural gas to Germany across the Baltic Sea, while bypassing Ukraine. The launch of the pipeline is planned for 2018.

    Wintershall is Germany's largest crude oil and natural gas producer and a subsidiary of the chemical group BASF.

    According to the ministry, the sides also discussed a number of bilateral projects and the development of cooperation of Wintershall with Russian companies, both in Russia and abroad.


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